Reimbursement of Actual Expenditure does not attract Section 194C & 40(a)(ia)

Section 40 of the Income Tax Act, 1961 (in short ‘the Act’) disallows certain amounts mentioned therein, notwithstanding anything to the contrary in sections 30 to 38, in computing the income chargeable under the head “Please become a Premium member. If you are already a Premium member, login here to access the full content.